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Biotech / Medical : Cell Genesys (CEGE) -- Ignore unavailable to you. Want to Upgrade?

To: Madharry who wrote (862)	4/7/2000 6:38:00 PM
From: Sector Investor	Respond to of 1298

This CEGE valuation analysis (one of many such) was from Yahoo! yesterday. It's nicely detailed, except CEGE has $250+ million instead of $218 million. I'm a new long here, just over the last 2-3 weeks. I spent the early part of the week catching falling knives, so with this little bounce I'm still bleeding a bit but not too much. I'm looking forward to staying for a good long while, and I plan to sell covered calls into this upmove as soon as CEGE moves back to the upper $20s and lighten up a bit when it moves into the $30s. messages.yahoo.com

To: Madharry who wrote (862)	4/7/2000 8:16:00 PM
From: Bosco	Read Replies (1) \| Respond to of 1298

Hi Armin - you don't have to agree with me, obviously. However, if I were to use your premises, I wouldn't be investing in CEGE! I mean, sure, the cash and ABGX holdings are nice, as I ve pointed out time and again. However, my experience with biotech investments [mostly a bust!] have taught me that is not the foremost reason big investors put up their money. Why, if it is cash, they can find better returns. Why, if it is ABGX, they can buy ABGX. In fact, no offense, your lock step theory is pretty much discredit today. Still, you are entitled to believe so. Personally, I believe long term investors look at each and every individual company and see its potentials. Again, I want to emphasize that having something like cash and investments are icing on the cake. Of course, long term investors are mythical creatures. The reason why people welcome traders --- this is kinda a commonly accepted opinion from pros and pundits alike, not my original idea :) --- is that they provide daily liquidity. To this group of people, except for the program traders [in whatever form,] who may link the two related stocks together, parent and child stocks may or may not have a lock step relationship. I know, I ve owned NT for many years, BCE has only managed to catch on by proceeding to spin its NT holding off. If you investigate others [I don't have,] TDS has a -ve value placed on it. WMB is another one. I do not want to mention HWP/A and COMS/PALM b/c they are still work in progress. Anyway, I can go on forever, but I should stop :) best, Bosco